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Friday, October 06, 2006

Cramer's STOP TRADING re:GM

He said it changes things and he doesn't like GM as much after Kerkorian's placement of York resigmned. He doesn't think it will kill it, but now it is a "5-up 5-down" situation. He now thinks a $40 target is a stretch.

He thinks GM has to announce a much better quarter, and he doesn't think that can occur.

Cramer would have rather seen Wagner leave instead of York.

On Agco (AG) after its warning and since they are the #2 agricultural supplier in the US, Cramer said he thinks it could bring Deere (DE) down a couple points more.